China Everbright Bank Co
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Chinese real estate developer Country Garden has returned to the loan market, seeking $1bn from a deal helmed by six banks. -
China Everbright Bank has become the latest Chinese lender to tap the offshore market for floating rate notes (FRN), raising $500m at an aggressive level on Monday.
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Two Chinese property companies raised a combined $485m at the end of last week ahead of the holiday weekend in Hong Kong.
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Far East Horizon has boosted its latest offshore borrowing to $1bn, attracting 10 participants during syndication.
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Chinese issuers were out in force again in the bond markets on Wednesday, with financial companies ICBC International Holdings and Avic International Leasing Co raising $1.15bn between them.
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Chinese issuers kept up their bond issuances on Wednesday, despite having to contend with the backdrop of the US-China trade war. Three borrowers raised a combined $840m, proving that investors are still buying a range of credits.
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Shandong-based coal miner Yankuang Group Co was able to price a $500m tap almost 30bp inside where the existing notes were trading on Thursday, while E-House (China) Enterprise Holdings, a real estate services firm, also added $100m to an outstanding bond.
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China’s Suning Financial Services, a subsidiary of home appliance company Suning Holding Group, is tapping the offshore loan market with a $300m borrowing.
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Just two Asian borrowers visited the international debt market on Monday, raising nearly a combined $800m ahead of the public holiday on May 1.
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Three Chinese property companies courted high yield dollar investors on Wednesday, raising a combined $827m.
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Bank of China sold another blockbuster Belt and Road transaction on Wednesday, raising $3.8bn across eight tranches of notes in five currencies across five bank branches, It was the largest transaction sold under the BRI label.
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Three Chinese property companies battled in the primary market on Monday with competing supply. While high yield issuers have been able to sell bonds at ultra-tight prices of late, the weight of supply has started to force issuer’s to pay more to borrow.
